Deutsche Bank and Memento Blockchain have completed testing of the asset management system on blockchain

Feb 22, 2023
Two parties announced the completion of the DAMA project concept testing, which aims to develop a secure platform to solve problems with the launch of digital asset funds.
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DAMA was developed with the aim of launching a universal platform for servicing investments that will combine and adapt the basic requirements of fund management. The developers plan to implement a decentralized open architecture for self-service assets.

The DAMA project clearly demonstrates how a technological blockchain platform can facilitate control over the work of digital funds that invest in digital assets or tokenized securities. In the process of developing the project, Memento specialists took on technical tasks, relying on their many years of experience in implementing blockchain technology in the real sector of the economy. The functional part of the project was assigned to specialists from DBK. Both teams worked together on the development of the visual part and interfaces of DAMA.

One of the key reasons for launching DAMA is the current process of getting business access to cryptocurrency funds, which is financially costly and not fast in terms of temporary implementation. The difficulties that institutional investors face on a daily basis, in most cases, can scare them away from making a decision to enter the market.

According to a Deutsche Bank representative, proof of the undoubted benefits of the new product concept was noted by a grant from the Singapore Financial Sector Technology and Innovation Administration (FSTI) last summer. DBK also noted the importance of DAMA in the tasks of reducing the financial and time costs required to launch and manage digital funds.

The Deutsche Bank report reports that the functionality of paying the commission for using the service was provided by Domani, which is also a Memento Blockchain product. In turn, Domani is the issuer of the Domani Protocol token (DEXTF), whose market capitalization at the time of writing this publication exceeds $19 million.